CKPower Celebrates Oversubscription of 5 Billion Baht Green Bonds

Hanoi: CK Power Public Company Limited has expressed satisfaction with the overwhelming subscription of its Green Bonds, which have surpassed the 5 billion baht limit. The funds raised will be allocated to the Luang Prabang Hydroelectric Power Project and for repaying promissory notes. According to Thai News Agency, Mr. Thanawat Trivisvavet, Managing Director of CK Power Public Company Limited (CKPower), announced that in early June, the company successfully issued four series of unsecured, unsubordinated, and bondholder representative Green Bonds totaling 5 billion baht. The high demand, exceeding the offered amount, underscores investors' confidence in CKPower's solid financial foundation, governance, and commitment to transitioning to clean energy and sustainable development. The proceeds from these bonds will mainly support the ongoing Luang Prabang Hydroelectric Power Project, with the remainder used to settle promissory notes related to the Xayaburi Hydroelectric Power Plant investment. The bond issua nce includes four series: Series 1 (3-year term, 1 billion baht, 3.15% interest), Series 2 (4-year term, 1 billion baht, 3.30% interest), Series 3 (5-year term, 1 billion baht, 3.45% interest), and Series 4 (10-year term, 2 billion baht, 3.90% interest), with early redemption rights for the issuer. TRIS Rating has given CKPower's debentures an "A-" credit rating with a stable outlook, matching the company's credit rating. Classified under the Green Bond Principles 2021 and further verified by DNV, the bonds are available to institutional investors, excluding individuals and/or major investors. Mr. Thanawat highlighted that in 2024, renewable energy plants within the CKPower group aim to supply over 8.8 million megawatt hours (MWh) of renewable energy to Thailand, accounting for 16% of the country's renewable energy usage. This initiative is expected to prevent 4.4 million tons of carbon dioxide equivalent emissions annually. CKPower plans to enhance its renewable energy output, exploring both hydropower and solar power avenues and leveraging green finance through renewable energy certificates (RECs). The company is focused on innovation in energy efficiency and conservation, aiming for net zero greenhouse gas emissions by 2050.